Peak Time Savings Surpass $1.2 Million in Bill Credits to ComEd Customers
October 06 2016 - 11:35AM
Business Wire
Study Shows Smart Meter Program also Reducing
Green House Gases
Since debuting in the summer of 2015, ComEd’s Peak Time Savings
(PTS) program has delivered participating customers more than $1.2
million in total bill credits for reducing electricity usage.
The first program of its kind in the Midwest, PTS provides
customers with a $1 bill credit for every kilowatt hour (kWh) of
electricity they reduce during Peak Time Savings Hours – which
occur for a few hours between 11 a.m. and 7 p.m. on three to five
different days throughout the summer. The program is open to
customers with digital smart meters, which provide access to
hourly, daily and month energy usage information.
In its inaugural summer, PTS enrolled more than 50,000
customers, making it one of the most successful new program
launches in ComEd history, while disbursing $386,000 in total bill
credits. For the 2016 summer season ending Sept. 30, PTS enrolled
an additional 100,000 customers and awarded more than $868,000 in
total bill credits. These bill credits appear as actual dollars off
customers’ ComEd bills.
“Peak Time Savings is another way our smart meter technology is
bringing value to our customers,” said Val Jensen, senior vice
president of Customer Operations, ComEd. “Smart meters are at the
heart of what we believe will become the electricity network of the
future. We will continue to use smart meters and smart grid
technology as platforms to explore innovative solutions that give
customers safer and more reliable electric service, and more
information and control over how they manage their electricity
costs.”
ComEd’s smart meter program also is contributing to the
reduction of Green House Gas (GHG) emissions, according to a 2015
study. In conjunction with the Citizens Utility Board (CUB) and the
Environmental Defense Fund (EDF), ComEd has developed a
first-of-its kind metric to measure the GHG emission reductions
associated with smart meters.
Because smart meters are read remotely, the study included the
impact of needing fewer vehicles for manual meter reading. In 2015,
this reduction in vehicle use and related fuel consumption reduced
GHG emissions by 18 percent in five ComEd regions within the
Chicago area compared to previous three-year averages for those
regions. This reduction is equivalent to removing from the road 22
passenger vehicles which would have been driven daily for one year.
The study also showed that in 2015 the PTS program reduced GHG by
10 percent by comparing the reduced energy loads of a sample of PTS
customers with those of similar customers who did not participate
in the program.
To date, ComEd has installed more than 2.7 million smart meters
in homes and businesses. The company will complete the installation
of 4 million smart meters throughout its service territory by the
end of 2018.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based
Exelon Corporation (NYSE: EXC), the nation’s leading competitive
energy provider with approximately 10 million customers. ComEd
provides service to approximately 3.8 million customers across
northern Illinois, or 70 percent of the state’s population. For
more information visit ComEd.com and connect with the company on
Facebook, Twitter and YouTube.
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